Accolade, Inc. (NASDAQ:ACCD) President Robert N. Cavanaugh Sells 5,582 Shares

Accolade, Inc. (NASDAQ:ACCD) President Robert N. Cavanaugh sold 5,582 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $20,095.20. Following the transaction, the president now owns 212,445 shares in the company, valued at approximately $764,802. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Accolade Trading Down 1.1 %

Shares of NASDAQ ACCD opened at $3.53 on Thursday. Accolade, Inc. has a one year low of $3.08 and a one year high of $15.36. The firm has a market capitalization of $284.31 million, a PE ratio of -3.43 and a beta of 2.07. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $3.60 and a two-hundred day moving average price of $4.37.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) EPS. As a group, analysts predict that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Stephens reduced their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Barclays cut their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Accolade has a consensus rating of “Moderate Buy” and an average target price of $9.04.

Institutional Investors Weigh In On Accolade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its position in Accolade by 0.5% in the 2nd quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock worth $20,196,000 after buying an additional 28,405 shares during the period. Vanguard Group Inc. raised its stake in Accolade by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock worth $56,626,000 after acquiring an additional 77,044 shares in the last quarter. Millennium Management LLC raised its stake in Accolade by 244.7% during the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after acquiring an additional 1,862,178 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Accolade by 18.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock worth $7,203,000 after acquiring an additional 314,371 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Accolade by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock worth $6,862,000 after purchasing an additional 83,556 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Accolade Company Profile

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.